Dutch independent storage tank firm Vopak has signed a deal with Stonepeak’s Seapeak to secure a floating storage and regasification unit for its planned LNG import facility in Australia’s Victoria state.
Vopak said on Tuesday that the exclusive agreement places its Victoria energy terminal project in a “strong position” to start LNG imports by 2029.
The firm secured a vessel for conversion to an FSRU, as Seapeak does not have FSRUs in its fleet.
Sepeak will probably use one of its steam LNG carriers for the conversion.
Teekay LNG Partners rebranded as Seapeak in 2022 following the completion of its $6.2 billion merger deal with New York-based private equity firm Stonepeak Infrastructure Partners.
As of June 30, Seapeak’s LNG fleet included 50 LNG carriers and one LNG regasification terminal in Bahrain.
LNG Prime contacted Vopak to provide further information regarding the planned FSRU conversion.
In May this year, Vopak said it was in advanced talks to secure a converted FSRU for its planned LNG import facility.
Vopak revealed its plans to install an FSRU in Port Phillip Bay, near Melbourne, in 2021.
Simulations
Vopak said the Seapeak agreement comes on the back of VVET recently completing the full mission bridge simulations conducted with Ports Victoria and Port Phillip Sea Pilots, among others.
“The simulations confirmed the advantages of Vopak’s proposed Port Phillip Bay site for its terminal, demonstrating ease of navigation without any need for new Bay dredging nor compromised gas loading of LNG carriers,” the firm said.
Also, VVET is now able to move to the next step of simulating the berthing and unberthing to the terminal, it said.
The FSRU will be moored at a simple fixed marine berth within an existing anchorage point in Port Phillip, 19 kilometers east of the Avalon shoreline.
According to Vopak, Victoria’s gas transmission system is accessible within about 28 km of the FSRU via a subsea pipeline and land-based pipeline route predominantly over farmland managed by Melbourne Water.
“VVET is continuing to progress its EES and is pleased to be working with the government on the 18-month timeline for completion that was outlined in the premier’s 2024 economic statement,” Vopak added. (September 30, 2025, Source: https://lngprime.com/australia-and-oceania/vopak-inks-fsru-deal-with-seapeak-for-australian-lng-import-project/164699/)
AUSTRALIA - LNG - SUPPLIES - IMPORTS - EXPORTS